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What is Functions of Banks in India Explained about?

1) Banks perform key functions like accepting deposits from the public, maintaining accounts, lending or advancing money, dealing with bills of exchange, granting letters of credit, dealing in stocks/funds/shares, buying/selling foreign exchange, and acting as agents for the government. 2) A central bank plays a vital role in regulating commercial banks, controlling inflation, and acting as a lender of last resort to prevent economic failures. 3) Banking reforms in India since 1991 introduced many new t

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classnotesweb

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EN